June 14, 2007
Real Estate Luncheon featuring Keynote Speaker
Steven B. Tanger
President & COO
Tanger Factory Outlet Centers, Inc.
Keynote Speaker, Steven B. Tanger
President and Chief Operating Officer
Steven Tanger, president and chief operating officer of Tanger Factory Outlet Centers, Inc., delivered the keynote address at an Institute of Real Estate luncheon at Hofstra University on Thursday, June 14, 2007 in the Rochelle and Irwin A. Lowenfeld Conference and Exhibition Hall, 10th floor, Joan and Donald E. Axinn Library, south campus.
The topic of his speech Factory Outlets – The New Channel of Distribution was an interesting and informative presentation dealing with the methods his company employed to accomplish building outlet malls throughout the country and on Long Island.
With one successful Island retail outlet center under his belt and another on the way, Tanger shared the secrets of his company’s phenomenal success, discussed the state of the Island’s retail development and made a significant announcement: Long Island’s first Neiman Marcus Department Store will anchor Tanger’s new Deer Park shopping center.
Greensboro, N.C. – based Tanger Centers boasts over 40 centers in 22 states, which were visited by over 150 million shoppers in 2006. Tanger’s father Stanley built his first factory outlet shopping center in Burlington, N.C., in 1981, and the company went public in 1993 with a market capitalization of $200 million. By 2006, that number had grown to $2.2 billion.
Mr. Tanger’s responsibilities include supervision of and hands-on involvement in long-term strategic planning, investor relations, capital markets, site selection, land and shopping center acquisition, project development, leasing and construction.
Long Island was described by Mr. Tanger as “under retailed.” Nearly 6 billion square feet of retail space exists nationwide, which translates into 28.3 square feet of retail per person; but the 56 million square feet in Nassau and Suffolk works out to 7.4 square feet of retail per Long Islander.
Mr. Tanger spoke to a sold-out crowd of 156 real estate professionals. The luncheon raised nearly $12,000 which will benefit scholarships for Hofstra students.
We sincerely appreciate the support of our sponsors and everyone in attendance. Proceeds from the luncheon will benefit scholarships for Hofstra students.
Anchin, Block & Anchin LLP
Apollo Real Estate Advisors, LLP
Benchmark Title Agency, LLC
Chicago Title Insurance Company
Cronin, Cronin & Harris, P.C.
First American Title Insurance Company of New York
Jeco Electric, Inc.
Margolin, Winer & Evens LLP
NAI Long Island
Pergolis Swartz Associates, Inc.
Polimeni International, LLC
Ruskin Moscou Faltischek, P.C.
Sutton & Edwards
Weber Law Group